Varonis Systems, Inc. (NASDAQ:VRNS) Shares Sold by Thematics Asset Management

Thematics Asset Management lessened its holdings in Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) by 14.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 452,000 shares of the technology company's stock after selling 78,000 shares during the quarter. Thematics Asset Management owned 0.40% of Varonis Systems worth $20,082,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Varonis Systems in the fourth quarter valued at approximately $56,561,000. Groupama Asset Managment purchased a new position in shares of Varonis Systems during the 4th quarter valued at approximately $55,538,000. Assenagon Asset Management S.A. lifted its holdings in Varonis Systems by 761.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company's stock valued at $50,026,000 after purchasing an additional 995,274 shares in the last quarter. Renaissance Technologies LLC increased its stake in Varonis Systems by 11,353.2% during the 4th quarter. Renaissance Technologies LLC now owns 538,300 shares of the technology company's stock worth $23,917,000 after buying an additional 533,600 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Varonis Systems by 114.1% in the 4th quarter. Bank of Montreal Can now owns 979,769 shares of the technology company's stock valued at $43,531,000 after purchasing an additional 522,075 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on VRNS shares. Piper Sandler reduced their target price on shares of Varonis Systems from $55.00 to $50.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. StockNews.com lowered Varonis Systems from a "hold" rating to a "sell" rating in a research report on Friday, April 11th. Jefferies Financial Group cut their target price on Varonis Systems from $50.00 to $45.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Wells Fargo & Company decreased their price target on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 5th. Finally, Citigroup reduced their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $57.11.

Varonis Systems Price Performance

Shares of NASDAQ VRNS traded up $0.94 during trading on Wednesday, hitting $41.29. 1,118,304 shares of the company were exchanged, compared to its average volume of 1,515,136. The firm's fifty day moving average price is $41.27 and its 200 day moving average price is $46.41. The company has a market cap of $4.65 billion, a price-to-earnings ratio of -48.01 and a beta of 0.76. Varonis Systems, Inc. has a 1 year low of $36.53 and a 1 year high of $60.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. On average, sell-side analysts expect that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its Board of Directors has initiated a stock repurchase plan on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.